LiveRail was considering an IPO later this year, but that isn’t going to happen now that Facebook has snatched the company up. It was also expecting gross revenue of $200 million in 2014. The advertisement company made $60 million in gross revenue and $22 million in net revenue in 2013, TechCrunch notes.
“We realized that by joining forces we’d be able to draw upon our respective strengths to move even faster towards our shared vision of creating the advertising platform of the future,” Mark Trefgarne, CEO and cofounder of LiveRail, told Mashable.
Here are a few things to know about Facebook’s acquisition of LiveRail, as collected by TechCrunch.
- Facebook reportedly paid $500 million for the company.
- The deal must be reported to the FTC and the Department Of Justice, but it may not require their approval.
- LiveRail uses real-time bidding when connecting publishers and marketers.
- LiveRail customers include the MLB, ABC Family, Gannett (GCI), Dailymotion and more.
- The two companies will likely be able to create video ads in apps to target specific audiences.
To see more on the Facebook’s acquisition of LiveRail, click here.